GeoComply, the market chief in geolocation and anti-fraud expertise companies for the US and Canadian iGaming trade, introduced Monday that it has acquired OneComply. The acquired expertise firm, additionally primarily based in Vancouver, is targeted on offering corporations with a platform to streamline their compliance knowledge.
OneComply helps corporations working in extremely regulated markets centralize their compliance knowledge into one on-line account. The corporate says it will assist corporations enhance the effectivity, safety and oversight of their compliance and license administration processes.
GeoComply is primarily engaged in iGaming, a expertise firm that helps on-line sportsbooks and web casinos corresponding to BetMGM and DraftKings bodily establish customers earlier than permitting them to gamble.
GeoComply says the acquisition of OneComply will broaden its portfolio from gaming to fintech and different industries. The acquisition may even strengthen his GeoComply choices for iGaming companions.
From our first interplay with OneComply, we have been thrilled with the chance to welcome them to the GeoComply household and are more than happy to have accomplished the method. “The addition of their licensed platform and experience to our portfolio of options will assist present and new clients in gaming and different regulated industries obtain and preserve the brand new gold normal in compliance and threat companies.” It helps in a sensible and cost-effective approach.”
Collectively, Sainsbury will “provide unparalleled capabilities to assist the gaming trade’s mission-critical compliance wants, together with anti-money laundering, buyer verification, licensing, geolocation, sanctions compliance and fraud prevention expertise.” added.
Phrases of the OneComply acquisition weren’t disclosed.
The story behind Geocomply
GeoComply was based in 2011. This was lengthy earlier than the U.S. Supreme Court docket reversed a federal ban on sports activities betting in Might 2018. At the moment sports activities betting is authorized in over 30 states and on-line sportsbooks function in 24 states and Washington DC.
GeoComply’s flagship product is PinPoint. That is geolocation his expertise that identifies the bodily location of a person when the person initiates a request to entry a reliable on-line gaming web site. PinPoint makes use of Wi-Fi, GPS, cell tower indicators, and different knowledge to detect your location. This expertise can detect the usage of digital personal networks (VPNs) and different applied sciences designed to cover your actual location.
Sainsbury, 40, co-founded GeoComply together with her husband of 52, David Briggs. Sainsbury and Briggs beforehand labored within the video games trade. Sainsbury labored for a gaming consultancy, and he or she met Briggs at a gaming convention in Macau in 2005.
The couple married in 2010 and based GeoComply the next 12 months. At the moment, the corporate employs about 650 folks and has a market valuation of over her $1 billion.
Onecomply historical past
OneComply was based in 2019. Our business-to-business options embrace license software and administration, license administration, safe file sharing, and regulatory engagement.
In response to OneComply’s web site, its platform permits corporations to create a number of licensed functions utilizing a single knowledge supply within the period of time it takes to finish only one. Its license administration service permits corporations to remain compliant by utilizing a centralized system to observe the standing of a gaggle’s functions and licenses.
OneComply additionally permits purchasers to ask regulators to entry the corporate’s centralized OneComply account to carry out common compliance checks.
